Wall Street Scene (1)

By
Ron Scherer /
April 6, 1981

New York

It was a traumatic week for the stock market. After shutting down early on Monday to avoid a panic, based on incomplete information on the assassination attempt, the market staged a strong rally. Once the Dow Jones industrial average breached the 1,000 mark, however, it once again ran into strong selling. For the week the Dow closed at 1,007.11, up 12.33 points for the week.

Merger candidate St. Joe Minerals was once again actively traded as the company disclosed that Fluor Corporation, a West Coast engineering and construction firm, had offered a higher bid than Seagram Company for the resource-rich company.